The Bank of Jamaica (BOJ) says deposit-taking institutions continue to increase their interest rates on various instruments.

The central bank says in April, rates offered on deposits increased by an average 22 basis points or .22 per cent.

 

The rate on borrowing instruments by primary dealers such as investment firms, to include loans increased by an average .03 per cent.

 

The BOJ says the DTI sector continues to make small adjustments to rates on savings deposits and loans, including mortgages.

 

This was a sore point for the central bank's Monetary Policy Committee at previous decisions, as interest rates on loans and deposits were not moving in tandem with policy interest rate hikes.